1 / 17

Indiana Economic Development Corporation Update August 26, 2009

NEW AND EXPANDED ECONOMIC DEVELOPMENT TOOLS RESULTING FROM FEDERAL STIMULUS AND RECOVERY LEGISLATION. Indiana Economic Development Corporation Update August 26, 2009. Indiana ARRA Activity By County. Indiana ARRA Activity Map http://in.gov/gov/countyarra.htm. Online Project Survey.

andie
Download Presentation

Indiana Economic Development Corporation Update August 26, 2009

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. NEW AND EXPANDED ECONOMIC DEVELOPMENT TOOLSRESULTING FROM FEDERAL STIMULUS AND RECOVERY LEGISLATION Indiana Economic Development Corporation Update August 26, 2009

  2. Indiana ARRA Activity By County • Indiana ARRA Activity Map http://in.gov/gov/countyarra.htm

  3. Online Project Survey • The state, in conjunction with Ball State University, created an online project survey to gather information about potential community projects. • A list of more than 9,000 project ideas sorted alphabetically by county is available at: http://www.in.gov/gov/files/Press/040709.pdf. • The survey was designed to serve only as a tool to gather information and should not be considered an application for funding. Due to federal program requirements, most projects will not be eligible for funding.

  4. Economic Development Administration (EDA) • EDA has standard program, disaster & stimulus funds available for eligible projects • The state submitted a priority project list to EDA • Local economic impacts • “Shovel Ready” projects • Regional planning commissions apply for grants on behalf of local communities • For more information about EDA programs, contact David Terrell at (317) 232-8856 or at dterrell@ocra.IN.gov.

  5. INDOT • Highway funding appropriation is based on a federally-mandated formula requiring 60% to be filtered through the state to Municipal Planning Organizations (MPOs) and 40% through the state to Non-Entitlement Communities (county highway departments without MPO jurisdiction). • MPOs have more autonomy on how funds can be spent than Non-Entitlement Communities, who usually partner more closely with the state to determine project viability. • Eligible roads are mainly determined by federal government restrictions based on a hierarchy of functional road systems (principal arterials, minor arterials, collector roads, local roads). • For more information about transportation funding programs, contact David Holtz at (317) 233-1524 or at dholtz@indot.IN.gov.

  6. INDOT Links • Indiana MPO list: http://www.indianampo.com/MPO/mpos.htm • Transportation Infrastructure Distribution of Funds: http://www.in.gov/gov/2991.htm

  7. Wastewater • Projects are managed by Indiana Finance Authority through the state revolving loan fund • Low interest loans to municipalities and publicly-owned facilities • A list of State Revolving Fund Wastewater Stimulus Projects is available at : http://www.in.gov/ifa/arra.htm • Communities may submit applications for future funding opportunities • For more information about the SRF Loan Program process, contact Shelley Love at (317) 232-4396 or at slove@ifa.in.gov.

  8. Drinking Water • Projects are managed by Indiana Finance Authority through the state revolving loan fund • Low interest loans to municipalities and publicly-owned facilities • A list of State Revolving Fund Drinking Water Stimulus Projects is available at : http://www.in.gov/ifa/arra.htm • Communities may submit applications for future funding opportunities • For more information about the SRF Loan Program process, contact Sarah Hudson at (317) 232-8663 or at sahudson@ifa.in.gov.

  9. Broadband • Targeted to local governments and higher education institutions • Programs include • Broadband infrastructure program ($1.2 B nationwide) • Public computing center ($50 M nationwide) • Broadband adoption program ($150 M nationwide) • Applications were due August 14, 2009 for 1st of 3 application rounds • State applied for $3.5 M federal grant to create the state broadband map • If you have any questions on OCRA’s broadband Internet initiatives, contact Geoff Schomacker at (317) 232-8909 or gschomacker@ocra.in.gov.

  10. Weatherization Assistance Program (WAP) • Program is administered by Indiana Housing and Community Development Authority (IHCDA) • Indiana Department of Administration (IDOA) issued a Request for Proposal (RFP) to bulk purchase hot water heaters, furnaces, cellulosic & fiberglass insulation • Program is currently pending approval by US Department of Energy • Submit program questions online at: http://www.in.gov/ihcda/2523.htm.

  11. Recovery Zones • Each county and large municipality may designate a recovery zone • Characteristics include: • Significant poverty, unemployment, home foreclosure rates or general distress • Economically distressed by reason of a military installation closure or realignment

  12. Recovery Zones Economic Development (ED) Bonds (Government Projects) • Indiana is receiving $313 M • Each county and large municipality will receive its allotment of ED bonds • Bonds are issued at taxable interest rates. • The government provides a rebate of 45% of interest paid on bonds • Uses include capital expenditures, such as public infrastructure, construction of public facilities and expenditures for job training and education • Bonds must be issued by January 1, 2011

  13. Recovery Zone Facility Bonds (for Privately Used or Owned facilities) • Indiana is receiving $469,621,000 (cap) for tax exempt bonds on privately used or owned projects located in designated recovery zone areas • Uses include financing any depreciable business property constructed, reconstructed, renovated or acquired by purchase in the recovery zone after the date of designation • Bonds must be issued prior to January 1, 2011 • For more information about Recovery Zone bonds, contact Cindy Pierson at (317) 233-4335 or at cpierson@ifa.IN.gov.

  14. Energy • State received stimulus funds through the Office of Energy, which include: • Energy Efficiency and Conservation Block Grant (EECBG) (http://www.in.gov/ihcda/2523.htm) • State Energy Program (http://www.in.gov/oed/2583.htm) • Examples of eligible projects include wind turbine manufacturers, lithium-ion battery producers, hybrid automotive OEMs, smart grid, etc • For more information about energy programs, contact Brandon Seitz at (317) 234-3158 or at bseitz@oed.in.gov

  15. Competitive Grants Indiana’s "Funding Opportunities" page is a one-stop resource for small businesses, local governments and other entities seeking to apply for competitive grants administered by the federal government: http://www.in.gov/gov/3068.htm Federal grant opportunities are available at: http://www.grants.gov/aboutgrants/grant_categories.jsp

  16. Questions? Pam Fisher Director, Regulatory Affairs Indiana Economic Development Corporation 317-232-8893 pfisher@iedc.in.gov David Meehan Policy Analyst Indiana Economic Development Corporation 317-233-5121 dmeehan@iedc.in.gov

More Related